LIC's Jeevan Pragati Scheme: Invest ₹200 Daily And Receive ₹28 Lakhs In Return!

Life Insurance Corporation of India ( LIC ), the country’s largest insurance company, offers a variety of schemes catering to different age groups, from children to the elderly. Among these, the LIC Jeevan Pragati policy stands out, offering both savings and substantial returns . With this scheme, you can accumulate ₹28 lakhs by saving just ₹200 daily.

Eligibility: Ideal for Ages 12 to 45

If you’re considering purchasing a policy, the LIC Jeevan Pragati plan could be an excellent option. This plan offers numerous benefits, including a substantial fund of ₹28 lakhs from daily savings of ₹200 and risk coverage for investors. The minimum age to invest in this scheme is 12 years, while the maximum is 45 years.

How to Accumulate ₹28 Lakhs

The LIC Jeevan Pragati policy offers lifetime security along with attractive returns. Here’s how the savings add up: if a policyholder invests ₹200 daily, they contribute ₹6,000 per month. Over a year, this amounts to ₹72,000. By consistently investing in this scheme for 20 years, the total investment reaches ₹14,40,000. With the addition of all benefits, this amount grows to ₹28 lakhs.

Increasing Risk Cover Every Five Years

A unique feature of the LIC Jeevan Pragati plan is that the risk cover for investors increases every five years. This means that the policy coverage amount also increases every five years. In the event of the policyholder’s death, the death benefits include the insurance amount, a simple reversionary bonus, and a final bonus, all paid together.

How the Coverage Increases Over Time

The LIC Jeevan Pragati policy has a term ranging from a minimum of 12 years to a maximum of 20 years. The policy can be purchased by individuals aged between 12 and 45 years. Premium payments can be made quarterly, half-yearly, or annually. The minimum sum assured under this policy is ₹1.5 lakhs, with no upper limit. For example, if you buy a policy with a sum assured of ₹2 lakhs, the death benefit remains at ₹2 lakhs for the first five years. Between years six and ten, the coverage increases to ₹2.5 lakhs, and from years 11 to 15, it further increases to ₹3 lakhs. This way, the policyholder’s coverage increases over time.